 Caicedo's thirteen league goals helped to secure Levante's place in La Liga for a second season.On 30 May 2011, Levante officially took up an option to sign him and on 29 June 2011, Levante signed Caicedo for £880,000.In his move, it was revealed that Levante would cash in by selling Caicedo for a large profit in the summer because the club were in debt, owing €12 million ($17 million) a year in repayments.